Silicon Valley Bank collapse..

[man down]

***** now decides he wants to start drilling again in Alaska. Not going to sit well with his environmental scare mongers. To make up for it, he's pushing new gun legislation to make it harder for law abiding citizens to own one.

Hes doing so because the Saudis, Iran and Russia as well as China have plans. Things aren't going how the admin wants them. The admin knows they will crush us if they use oil and we don't. The reset has been delayed.


Oh and this sounds amazing.
Taxpayers ARE on hook for bank bailout - and could even fund bankers' bonuses: Fed's new $25BN loan scheme for troubled institutions risks huge losses for the government after SVB collapse - despite *****'s claims it's not a bailout.

[GhostofDempsey]

Signature Bank execs starred in cringey Broadway-style musical sketch video

Executives at the doomed Signature Bank produced a Broadway-style musical video to launch the firm in the early 2000s — and its song branded the bank “the ******est idea I ever heard” and even quipped that it could “diminish and fail.”

Clips of the musical number — now dripping with irony after over the weekend and in a bid to stave off a US banking crisis — resurfaced online and went viral this week.

“Look, the only way we are going to do this thing is if we start a bank from scratch,” the bank’s co-founder and chairman, Scott Shay, declares at the start as he fidgets in front of a dressing-room mirror with fellow executives.

“From scratch?” replies John Tamberlane, the bank’s vice chairman. “You gotta be kidding.”

“How in the world do you do that?” asks Joseph DePaolo, Signature’s CEO. “Is there a book ‘How to Build a Bank for Dummies?'”

Concluding that “we’d have to make our own mistakes” and “we’d have nobody to blame but ourselves,” the bankers then break into song, calling the idea of starting a bank “the ******est idea that I have ever heard.”

“We’re sick of the stank of the big major banks so we start one?” they ask, with one shooting back, “It’s absurd!”

“What a terrible proposition — like convincing the world to eat kale!” the chorus continues. “What possible fate will become of our bank other than to diminish and fail?”

Bringing the irony to a head, Shay then triumphantly retorts: “I happen to know for a fact — that won’t happen.”

The video — which then launches into a number touting Signature’s aspirations for solid customer service and safe lending — was posted by Genevieve Roch-Decter, a money manager and Substack blogger.

“Try not to cringe as you watch this,” Roch-Decter tweeted. “Their executive team spent millions of dollars to produce music videos & TV shows about themselves.”

In a subsequent tweet, Roch-Decter wrote: “From someone I know who worked at Signature Bank for several years: ‘The Management Team was basically like the show, the Office. They’d waste money on things like producing parody videos’.”

The bizarre ad segment starts with a group of “generic” bankers from a “mega bank” who are covered in chicken feathers — apparently with idea that they’ve been busy “plucking” clients with ruthless business tactics.

“Some banks will pluck their clients, some banks are ruthless, so many useless meetings,” the song begins. “Some banks will sell their souls, some banks just feel real old.”

“Only possible conclusion, from its inception the bank was created to fail,” another Twitter user wrote.

The five-minute marketing video, titled “Some Banks,” cuts through a dizzying number of scenes, with employees dancing in the office and an evil “mega banker” grabbing a pile of gold coins from a helpless client couple.

The marketing video later cuts to a banker who gets up from his desk and joins in the chorus.

“I stand for honesty, I stand for integrity,” the banker sings and begins carrying a flag through the office bearing the lender’s official logo.

Elsewhere, a pair of employees are seen doing a high-five in front of a Seattle Seahawks football helmet, while others are washing their faces in a fountain.

It is unclear when the video was produced, though a YouTube page indicates that it was uploaded to the site nine years ago.

The Post has sought comment from Signature Bank. The banker in the foreground sings the chorus against the backdrop of other bankers who appear on screens. Signature Bank
The New York Division of Financial Services took over Signature Bank on Sunday and gave control of it to the FDIC, the federal agency that insures bank deposits, until the bank can be sold.

Signature’s takeover after regulators

Both followed a rush of withdrawals from the banks, which catered to technology businesses. The collapse of Signature Bank was the third largest in US history. Kevin C. Downs for NY Post
Former Rep. Barney Frank (D-Mass.), who is , said Monday that he believes state officials were trying to make an example of Signature Bank and that the government takeover was the wrong move.

[man down]

Anyone shocked?

BREAKING: Gavin Newsom failed to disclose personal ties including his bank accounts at Silicon Valley Bank while lobbying for their bailout.

This is illegal.

[man down]

Yes, donated. How many other woke things did they donate to?

This is starting to look like FTX and they all have the same thing in common.

Put people in charge that will donate to anyone as long as they're not straight, white.

[man down]

Remember that "glitch" when people couldn't get their money last week?

Wells Fargo, $WFC, files for $9.5 billion mixed shelf offering.

[man down]

Newsome is a snake.

BREAKING: California Governor Gavin Newsom lobbied the White House and Treasury on the bailout of Silicon Valley Bank, without disclosing that his private wineries had reportedly been the bank's clients & he may have even had a personal account at the bank, per the Intercept

[man down]

Everything is fine!
JUST IN - First Republic Bank downgraded to "junk" by S&P.

[The Big Dunn]

CEO Greg Becker lobbied the government to relax some Dodd-Frank provisions on regional lenders in 2015. ***** did in 2018.

When Silicon Valley Bank busted, it had assets of $220 billion. *****'s rollback lifted the "systemically important" threshold from $50 billion to $250 billion.

[The Big Dunn]

Everything is fine!
JUST IN - First Republic Bank downgraded to "junk" by S&P.

Dont forget the whole story- the stock rose 20% on Monday before dropping.

Market volatility is the issue.

[The Big Dunn]

Remember that "glitch" when people couldn't get their money last week?

Wells Fargo, $WFC, files for $9.5 billion mixed shelf offering.

While Wells Fargo doesn't face a liquidity crisis similar to SVB, the large financial does have issues with deposit costs.